in Shares Study Trade Openings London, Mar. 28.
Moscow, Mar. 28.
In consequence of the protests: made by the American shareholders in the British General Electric Ca. concerning the special resolution recently passed to increase the capital of the Company by the crea tion of 1,000,000 new £1 "British ordinary" shares which were untransferable to foreigners, the Chairman of the Company, Sir Hugo Hirst, has formulated a> fresh scheme for the issue of the new shares which he unfolded to-day at 'a meeting of the shareholders, 'The main feature of the scheme was to offer the British shares to shareholders irrespective of their nationality or place of residence. 'The issue, he said, would be accompanied by letters' of renunciation Which would be marketable on the Stock Exchange if shareholders desired or if for reasons of their nationality, they required to dispose of their rights. The financial house making the issue would also offer to repurchase the shares from unqualified shareholders.
'The British Commercial Delegation to Russia, which is to study' Jccnditions here and investigate openings for British trade, arrived to-day. The delegates were met et} the frontier by the Chairman of the Reception Committee appointed by the Soviet Government, and were seeleomed here by leach the commercial body and of the Society for the Promotion of Cultural Relations with Foreign Countries, The members of the Delegation are being accommodated at the three best hotels in Moscow.
Thig evening they will attend a roception given in their honour.—Reuter, Moscow, Mar. 30, A statement issued to the Soviet press on behalf of the visiting British trade delegation declares that the visit already promises to bear fruit, for the enormous potential resources of Russia, when brought into proper ce-operation with Britain's industrial and finan-
Sir Hugo Hirst informed the meeting that the scheme had been abled on the 26th to the members of the committee of American shareholders in the company who were on their way across the Atlantic to England. He said, however, that no reply had been received up to the present. cial tesourees, can only give results of great magnitude, Mr. Ernest Remnant, the organized of the delegation, declared to-day that favourable factors definitely existed for the solution of conditions under which commercial transactions could be concluded.—
Renter.
Sir Huge Hirst warmly defended the policy of the Board of Directors of the British General Electric Ca. He said that he would not yield one fora in his belief that British control of the Company was essential. He had been called a super-patriot (Sir Hugo Hirst was born in many) but the action of the Board was dictated by sound business principles. by representatives of Messrs. Platt. Brothers, Oldham, who are members of the British Industrial delegation now visiting Russia.—Reuter, The Interests of the Company
Text read from the printed page and cleaned; old type leaves the occasional error.